On 8 December 2020, Ambassador of Ukraine to the Kingdom of the Netherlands Vsevolod Chentsov was elected as the Chair of the Budget Committee of the Permanent Court of Arbitration for 2021.

The Permanent Court of Arbitration is the world’s oldest institution for the pacific settlement of disputes, with its seat in The Hague, the Netherlands. Last year, over 200 disputes, including interstate, investment and commercial ones, were being considered under its auspices.

Next to arbitral proceedings, the PCA also provides support in other forms of dispute settlement, including mediation and conciliation.

The Budget Committee is in charge of the financial and budget aspects of the PCA’s activities. It comprises all 122 Contracting Parties, and elects its Chair on an annual basis.

The Budget Committee Chair is responsible for, in particular, coordination of meetings, holding consultations with the Contracting Parties, preparation of the official documents in cooperation with the PCA’s International Bureau.

Ukraine appreciates the function entrusted to it by the Contracting Parties and looks forward to working together with other PCA governing bodies with a view of promoting the institute of peaceful dispute settlement.